Power & Instrumentation (Gujarat) Limited has informed regarding Disclosure of material issue
PIGL · price
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On the reaction day the stock moved 3.6 pts more than Nifty Microcap 250 and 2.7 pts more than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Board of Directors, in a meeting held on March 18, 2026, approved the allotment of 5,43,531 fully paid-up equity shares upon conversion of an equal number of convertible warrants. The shares were issued at Rs. 83.75 per share, including a premium of Rs. 73.75, to 1 promoter entity (Padmaraj P Pillai HUF) and 5 non-promoter allottees on a preferential basis. Following this allotment, the company's paid-up equity capital has increased from Rs. 20.32 crore (2,03,25,369 shares) to Rs. 20.87 crore (2,08,68,900 shares). This is part of an earlier preferential issue of 50,96,000 warrants, of which 42,52,469 were previously converted and these 5,43,531 are now being converted, indicating near completion of the warrant exercise. The combined post-allotment holding of these allottees rose from 4.39% to 6.88% of the paid-up capital.
Minor dilution of approximately 2.7% for existing shareholders due to the increase in share count. Promoter group's effective holding has strengthened through the HUF entity, which is generally viewed as a confidence signal, though the overall capital raised is modest.